Schumacher back in Formula One as Massa's replacement!!!

After several days of speculation, Ferrari announced on Wednesday that seven-time Formula One world champion Michael Schumacher will indeed replace the injured Felipe Massa in next month's European Grand Prix in Valencia, Spain.

An announcement on Ferrari's Web site said that Schumacher, 40, will begin training immediately to make sure he is in shape for his comeback and that he is ready to go. Schumacher suffered some injuries during the winter after crashing a racing motorcycle, and the team needs to be sure he is fit. Regardless, the news comes as a strange contradiction to what the 40-year-old German's manager, Willi Weber, told the Daily Mail in comments published Tuesday. Webber said that he was "200 percent" sure that Schumacher would not fill the vacant seat. However, AutoWeek reported on Sunday that Schumacher topped the list of candidates for the job.

Sorry, Willi.

"The most important thing first: Thanks God, all news concerning Felipe are positive. I wish him all the best again," the most successful F1 driver of all time said.

"I was meeting this afternoon with [team boss] Stefano Domenicali and [Ferrari president] Luca di Montezemolo and together we decided that I will prepare myself to take the place of Felipe.

"Though it is true that the chapter Formula One has been closed for me since long and completely, it is also true that for loyalty reasons to the team, I cannot ignore that unfortunate situation. But as the competitor I am, I also very much look forward to facing this challenge."

The European Grand Prix on Aug. 23 will mark the first time that Schumacher races alongside Ferrari's Kimi Raïkkönen, and it will be the first time that he experiences F1's new slick tires and kinetic-energy-recovery system. In his favor, upcoming races take place at tracks known to be among Schumacher's favorites: Spa-Francorchamps, Monza and Suzuka. Schumacher has not raced at Valencia, Singapore or Abu Dhabi, which also are among the upcoming events.